Market Comment Australia The S&P/ASX 200 index increased 0.11% or 5.785pts to 5387.87 (day range: 5426.2 – 5387.87) on Thursday. The index is below its 20d MA (@ 5595) and below its 50d MA (@ 5566). 20% of the index constituents are above their 20D MA (vs 18% the previous session)… read more
Daily
The following is a summary of the previous day’s foreign exchange market movements in the major currencies and the commodities markets. It is meant as an informative guide to the reasons underlying currency and commodity movements seen in the previous day’s foreign exchange trading. Together with a market snapshot at close of the New York session, indicators/events released during the session are outlined compared with their expected level of influence before release. This fundamental analysis summary also highlights upcoming data/events which may influence currency movements upon their release.
You will also find a technical analysis snapshot at time of release, highlighting support and resistances of each of the major currencies and gold. Coupled together with the reasons behind these important levels, traders can expect some support or resistance when these levels are reached.
Bullet Report – Third China devaluation, EURUSD in dilemma
August 13, 2015A third China devaluation took place today but this time it came to no one’s surprise. On Tuesday the CNY was devalued by 1.9%, on Wednesday a further -1.6% and today -1.1%. This sent shockwaves across stock markets as now Chinese will find it more expensive to import goods. As… read more
Morning Dealing Room Technical Report
August 13, 2015Market Comment Australia The S&P/ASX 200 index fell 1.67% or 91.146pts to 5382.08 (day range: 5480.5 – 5364.7) on Wednesday. The index is below its 20d MA (@ 5609) and below its 50d MA (@ 5569). 18% of the index constituents are above their 20D MA (vs 32% the previous… read more
Bullet Report – Currency wars
August 13, 2015Yesterday China carried out its biggest FX reform for more than 10 years. It devalued the CNY by 1.9% but more importantly USD/CNY will be determined by the market from now on. While Chinese authorities mentioned that this one was a “one off” move, the authorities followed with another devaluation… read more
Bullet Report – Currency Wars, USD tumbles again
August 12, 2015It was supposed to be a quiet week until Thursdays Retail Sales however overnight the USD strengthened a lot over news that China had devalued its currency by almost 2% in an effort to revive its slumping economy. As a result most G7 pairs tumbled versus the USD with notable… read more
Morning Dealing Room Technical Report
August 12, 2015Market Comment Australia The S&P/ASX 200 index decreased 0.65% or 35.926pts to 5473.23 (day range: 5543.2 – 5463) on Tuesday. The index is below its 20d MA (@ 5621) and below its 50d MA (@ 5575). 32% of the index constituents are above their 20D MA (vs 38% the previous session)… read more
Bullet Report – USD strength as China devalues its Currency
August 11, 2015In a surprise move today the People’s Republic of China, raised its USD/CNY rate by almost 2% while also indicating that greater volatility ahead could be expected. This was the biggest one day drop in its currency ever since China adopted market exchange rates in 1994. Most major currencies and… read more
Morning Dealing Room Technical Report
August 11, 2015Market Comment Australia The S&P/ASX 200 index gained 0.63% or 34.377pts to 5509.16 (day range: 5513 – 5458.2) on Monday. The index is below its 20d MA (@ 5627) and below its 50d MA (@ 5580). 38% of the index constituents are above their 20D MA (vs 33% the previous session)… read more
Bullet Report – NFP Mixed, USD lower
August 10, 2015Non-farm payrolls on Friday was solid at 215k jobs added however the USD reversed its gains shortly after the release. The number did not seem to convince markets that it is enough to secure a rate hike in September. Remember, last week dovish Fed member Lockhart said that it would… read more
Morning Dealing Room Technical Report
August 10, 2015Market Comment Australia The S&P/ASX 200 index dropped 2.41% or 135.323pts to 5474.78 (day range: 5571.4 – 5474.78) on Friday. The index is below its 20d MA (@ 5625) and below its 50d MA (@ 5585). 33% of the index constituents are above their 20D MA (vs 54% the previous… read more
